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SOURCE OF INFORMATION : RESERVE BANK OF INDIA WEBSITE & NEWSPAPERS
PERIOD COVERED : 01-AUG-1996 TO 27-AUG-2025

FOREIGN BANKS: OUTSOURCED MONITORING AND DISPOSAL/CLOSURE (DECISION MAKING FUNCTION) OF AML (ANTI-MONEY LAUNDERING) ALERTS TO A GROUP COMPANY

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CITIBANK N.A.
  DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF RBI ON TRANSFER OF ELIGIBLE UNCLAIMED FUNDS TO DEPOSITOR EDUCATION AND AWARENESS FUND WITHIN PRESCRIBED PERIOD

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY RBI ON PAYMENT OF REMUNERATION TO EMPLOYEES IN FORM OF COMMISSION

OUTSOURCED MONITORING AND DISPOSAL/CLOSURE (DECISION MAKING FUNCTION) OF AML (ANTI-MONEY LAUNDERING) ALERTS TO A GROUP COMPANY   		IMPOSED PENALTY RS.5,00,00,000

02-NOV-2023 		 
2
History of entity/person HONGKONG & SHANGHAI BANKING CORP.LTD.,THE
  OUTSOURCED MONITORING AND DISPOSAL/CLOSURE (DECISION MAKING FUNCTION) OF AML (ANTI-MONEY LAUNDERING) ALERTS TO A GROUP COMPANY

DID NOT REPORT UNHEDGED FOREIGN CURRENCY EXPOSURES OF CERTAIN BORROWERS TO CREDIT INFORMATION COMPANIES (CICS)

OPENED SEVERAL SAVINGS DEPOSIT ACCOUNTS IN THE NAME OF INELIGIBLE ENTITIES   		IMPOSED PENALTY RS.66,60,000

24-FEB-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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